The International Financial Services Centres Authority (IFSCA) on April 08, 2026, issued circular regarding the Reporting norms for Capital Market Intermediaries in IFSC.
The International Financial Services Centres Authority (IFSCA) has revised the reporting framework for Capital Market Intermediaries (CMIs) following the introduction of the IFSCA (Capital Market Intermediaries) Regulations, 2025. The updated norms expand coverage to new categories such as Global Access Providers, Credit Rating Agencies, ESG rating providers, Data Product Providers, and Research Entities, while also improving existing reporting formats to enhance supervisory efficiency.
All CMIs are required to submit quarterly reports in a prescribed Excel format available on the IFSCA website. The report includes common details such as general information, grievance redressal, V-CIP reporting, and AML/CFT/KYC compliance, along with category-specific sheets. The AML/CFT/KYC compliance sheet is to be submitted half-yearly (for July–September and January–March quarters). Reports must be submitted within 21 days from the end of each quarter, including for newly registered entities or those under suspension until cancellation is communicated.
For Broker Dealers, Clearing Members, and Depository Participants, reports must be submitted to respective Market Infrastructure Institutions (MIIs), which will also develop digital systems for reporting and share data with IFSCA. Other CMIs must submit reports directly to IFSCA via email. IFSCA may update reporting formats periodically, and CMIs must ensure use of the latest version each quarter.
Key points:
• Quarterly reporting mandatory for all CMIs in prescribed format
• Inclusion of new CMI categories under 2025 Regulations
• Submission timeline: within 21 days of quarter end
• Dual reporting system: to MIIs or IFSCA depending on registration type
• AML/CFT/KYC compliance reporting required half-yearly
• New circular effective from April 01, 2026, replacing earlier February 08, 2024 circular (with past actions protected)
[Circular No. 1/IFSCA/CMI Supervision/2023-24]
